Interest rates for 30-year home mortgages are at a 20-year high. The median sale price of a home in the Greater Des Moines area continues to hover above $250,000. New home construction has slowed. Average monthly rental rates for apartment units are more than $1,000. All of these things spark questions related to the outlook for the residential real estate market in 2023. In this discussion, we talked to a variety of experts about the outlook for new home and multifamily construction and the effect of rising interest rates on homebuying.

Panelists:
Jake Anderson, city administrator, city of Grimes
Tracy Frette, senior mortgage lender, Lincoln Savings Bank
Nick Jensen, owner, Caliber Iowa Development
Kris Saddoris, vice president of development, Hubbell Realty Co.
Jen Stanbrough, broker manager, Jen Stanbrough Real Estate
Carrie Woerdeman, director of development, Kading Properties

Watch the video of last week’s Project515 event